Genesee Valley Trust Co. increased its position in shares of Duke Energy Corp (NYSE:DUK) by 45.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,285 shares of the utilities provider’s stock after buying an additional 3,231 shares during the quarter. Genesee Valley Trust Co.’s holdings in Duke Energy were worth $865,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. acquired a new stake in Duke Energy during the second quarter worth about $500,000. Trust Co. of Virginia VA grew its position in Duke Energy by 11.5% during the second quarter. Trust Co. of Virginia VA now owns 13,500 shares of the utilities provider’s stock worth $1,129,000 after buying an additional 1,392 shares in the last quarter. BB&T Investment Services Inc. grew its position in Duke Energy by 12.8% during the third quarter. BB&T Investment Services Inc. now owns 16,991 shares of the utilities provider’s stock worth $1,424,000 after buying an additional 1,923 shares in the last quarter. Sei Investments Co. grew its position in Duke Energy by 26.4% during the third quarter. Sei Investments Co. now owns 152,409 shares of the utilities provider’s stock worth $12,790,000 after buying an additional 31,789 shares in the last quarter. Finally, Iberiabank Corp grew its position in Duke Energy by 3.6% during the third quarter. Iberiabank Corp now owns 65,328 shares of the utilities provider’s stock worth $5,487,000 after buying an additional 2,297 shares in the last quarter. 57.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Lloyd M. Yates sold 5,000 shares of Duke Energy stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $89.95, for a total value of $449,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, February 15th. Duke Energy’s dividend payout ratio (DPR) is currently 117.49%.
A number of research firms recently weighed in on DUK. SunTrust Banks set a $80.00 target price on Duke Energy and gave the stock a “hold” rating in a research report on Monday. UBS Group initiated coverage on Duke Energy in a report on Friday, February 2nd. They set a “buy” rating and a $91.00 price objective on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $91.00 price objective on shares of Duke Energy in a report on Thursday, February 1st. Credit Suisse Group raised Duke Energy from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $91.00 to $83.00 in a report on Tuesday, January 23rd. Finally, Zacks Investment Research raised Duke Energy from a “sell” rating to a “hold” rating in a report on Monday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $87.98.
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About Duke Energy
Duke Energy Corporation (Duke Energy) is an energy company. The Company operates through three segments: Electric Utilities and Infrastructure; Gas Utilities and Infrastructure, and Commercial Renewables. The Company operates in the United States through its direct and indirect subsidiaries. The Electric Utilities and Infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.5 million customers within the Southeast and Midwest regions of the United States.
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